Power to call for information enables the Authority to require information, documents or records from a bullion exchange, bullion clearing corporation, bullion depository, vault manager, their governing boards, or any shareholder. The power forms part of the framework for enquiries, inspection and enforcement in the bullion market.

Bullion market intermediaries may participate in bullion-market activities only under a certificate of registration and subject to prescribed conditions. Applicants must satisfy fit and proper criteria, file applications in the specified form and manner, and pay prescribed fees. The relevant bullion exchange, clearing corporation or depository processes applications for eligibility and forwards recommendations for registration. Registration may be suspended or cancelled, but a hearing is required except for voluntary surrender. Voluntary surrender becomes effective only upon approval.

Fit and proper requirements for persons connected with a bullion exchange, bullion clearing corporation, bullion depository or vault manager are subject to the Authority's final determination where a question arises from the decision of any such entity. The Authority's decision is conclusive on the fit and proper status of the person concerned.

Fit and proper requirements require a bullion exchange, bullion clearing corporation, bullion depository, or vault manager to replace any director or key management personnel who ceases to satisfy prescribed fitness and propriety criteria within thirty days of disqualification. Failure to replace the person permits initiation of proceedings to declare the relevant regulated entity not fit and proper.

Bullion exchanges, bullion clearing corporations, bullion depositories and vault managers must ensure that shareholders, directors and key management personnel remain fit and proper persons. This requires fairness, integrity, financial integrity, good reputation, character and honesty. Disqualifications include relevant criminal convictions, winding-up or insolvency, regulatory market restraints or adverse orders, pending recovery proceedings, unsoundness of mind, financial unsoundness, wilful default, fugitive economic offender status, and further specified disqualifications.

Delivery of bullion to the beneficial owner under a bullion depository receipt requires payment of all charges due to the vault manager and surrender of the receipt for cancellation. The vault manager must not release the bullion until these conditions are fulfilled.

Withdrawal of bullion represented by bullion depository receipts requires the bullion depository to approve a beneficial owner's request and notify the relevant vault manager. The vault manager must deliver the bullion after required documents are produced and written receipt is acknowledged. A vault manager refusing or failing to deliver bears the burden of proving sufficient reason. Withdrawal from the vault must be intimated to the bullion depository.

Bullion depository receipts are documents of title to bullion and must contain prescribed identification, vault, depositor, delivery, bullion-description, marking, and authentication particulars, along with any additional particulars required by the bullion exchange or the Authority. A vault manager is liable for damages caused by wilful omission of required particulars. Such omission alone does not invalidate the receipt for settlement of disputes or claims.

Specified amendments under the Arunachal Pradesh Goods and Services Tax (Amendment) Ordinance, 2025 take effect from 1 October 2025. The appointed commencement covers clauses (ii) and (iii) of section 2, sections 3 to 5, and sections 7 to 15, giving operative effect to the expressly identified amendment provisions from that date.

Every depositor and beneficial owner must maintain an account with the bullion depository. After receiving bullion from a depositor and completion of requisite documentation, the bullion depository must create and manage a bullion depository receipt in the depositor's name. The receipt is to be issued in dematerialised form in the manner specified by the Authority.

Depositing bullion requires a depositor to place a request with a vault empanelled with a bullion depository. Before deposit, the vault manager or its authorised representative must ensure execution of requisite documents. The vault manager must ensure that bullion meets the Authority-specified good delivery standard and, if directed by the Authority, engage an assayer at the time of deposit to test that standard.

Bullion depository receipts may be issued only in accordance with the applicable regulatory requirements governing such instruments. Issuance outside the prescribed framework is prohibited.

Vault managers must keep complete, accurate and electronically retrievable records and accounts of vault operations, including bullion received and withdrawn and bullion depository receipts issued. Vault-business records must be maintained in numerical sequence, separately from any other business records, and retained in the prescribed form, manner and period. The records and accounts must be available for inspection when required by the Authority, bullion exchange or bullion depository.

Vault managers are liable for loss of or injury to bullion stored in their vaults. Damage or loss despite reasonable care requires compensation based on the bullion's value at deposit, while negligence requires compensation based on its value on the date of damage or loss. Liability is excluded for force-majeure events. Vault managers must maintain adequate insurance for risks specified by the bullion depository or the Authority.

Registration of Vault Managers requires an application in the prescribed form and manner, accompanied by an undertaking accepting applicable liabilities. Eligibility requirements may include net worth and infrastructure for operating a bullion-storage vault. Registration is granted upon the Authority's satisfaction, and an applicant must receive an opportunity of being heard before rejection.

Bullion depositories must indemnify beneficial owners for losses caused by the wrongful act, negligence or default of the bullion depository or a participant. Where indemnification relates to loss caused by a participant's negligence, the bullion depository may recover the amount from that participant.

Regulation 50 establishes information-sharing and record-access obligations between bullion depositories and vault managers. Bullion depositories must provide vault managers with details of bullion transfers in the names of beneficial owners, in accordance with their bye-laws. Vault managers must make available specified relevant records concerning bullion held by the depository. A bullion depository may empanel only a vault manager registered with the Authority.

A beneficial owner may create a pledge or hypothecation over a Bullion Depository Receipt only with the prior approval of the bullion depository. The beneficial owner must intimate the depository of the arrangement, and the depository must enter it in its records. The recorded entry constitutes evidence of the pledge or hypothecation.

Every bullion depository must maintain a register and an index of beneficial owners in the manner specified by the Authority. The requirement establishes a record-keeping obligation concerning beneficial ownership.

A bullion depository may effect transfer of ownership of a bullion depository receipt on behalf of the beneficial owner. Apart from this authority, its status as registered owner does not confer any other right in respect of bullion held by it. The beneficial owner is entitled to all rights and benefits attached to the bullion depository receipt and is subject to all liabilities associated with that receipt.